Lam Research Co. (NASDAQ:LRCX) Shares Bought by Guinness Asset Management LTD

Guinness Asset Management LTD lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,129.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 482,156 shares of the semiconductor company’s stock after purchasing an additional 442,949 shares during the quarter. Guinness Asset Management LTD’s holdings in Lam Research were worth $34,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP boosted its stake in Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares during the last quarter. NCP Inc. purchased a new position in shares of Lam Research during the 2nd quarter worth about $213,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 192 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new stake in Lam Research in the second quarter valued at approximately $226,000. Finally, MQS Management LLC acquired a new position in Lam Research during the second quarter worth approximately $228,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on LRCX shares. Sanford C. Bernstein lowered their price objective on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $80.30 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The business has a 50 day moving average price of $74.73 and a two-hundred day moving average price of $80.81. The firm has a market cap of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company earned $6.85 earnings per share. Sell-side analysts expect that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s payout ratio is 29.74%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.